Category: Latest Stories

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InfrastructureLatest Stories

GDA to Pay ₹45 Crore to GMC for Swarn Jyantipuram Handover

GHAZIABAD: The Ghaziabad Development Authority (GDA) has initiated the transfer of Swarn Jyantipuram to the Ghaziabad Municipal Corporation (GMC), ending a decades-long wait. According to the initial agreement, GDA will allocate Rs 45 crore to the GMC to facilitate the completion of outstanding infrastructure projects in the township. The funds are earmarked for enhancing roads, sewer systems, and the water supply network. Launched in 1998, Swarn Jyantipuram has been one of Ghaziabad’s longstanding housing projects, pending transfer to the municipal corporation. Despite its establishment over twenty years ago, the handover has been delayed due to prolonged legal disputes and disagreements…

IndustryLatest Stories

Rajasthan Developer Claims Officials Altered Land Ownership

JAIPUR: A real estate developer from Jaipur has accused officials of the Jaipur Development Authority (JDA) of tampering with land records and illegally modifying the ownership of a specific land parcel. Rajdarbar Pinkcity Developers Pvt Ltd filed a complaint with the JDA Commissioner, stating that the firm purchased approximately 3.14 hectares of agricultural land in Jayasinghpura Bas village near Bhankrota in 2005, supported by registered sale deeds. The company claims that it followed all legal protocols, including the surrender of land as per the Rajasthan Land Revenue Act, which were approved by the JDA the same year. In January 2021,…

InfrastructureLatest Stories

Ahmedabad Issues Notices for Unauthorized Parking at 380+ Buildings

Representative image AHMEDABAD: Concerned about traffic disruptions due to illegal parking, the AMC has issued 384 notices to various buildings in the past two days. AMC officials mention that many residential and commercial buildings lack parking facilities. “Unauthorized parking on public roads, footpaths, and other spaces is severely affecting traffic flow,” stated an AMC officer. To address this issue, housing associations, chairmen, secretaries, building owners, and occupants have been directed to ensure vehicles are parked within their premises. Notices were sent to those not complying. The AMC mandated that every building must have proper signage and sufficient parking arrangements. “It…

IndustryLatest Stories

NBCC India, Delhi Govt Resolve Ghitorni Land Dispute

Representative AI image NEW DELHI: The state-owned NBCC (India) Ltd has finalized a settlement with the Government of National Capital Territory of Delhi (GNCTD) to resolve long-standing litigation regarding a 42.46-acre land parcel in Sultanpur–Ghitorni village, south Delhi. As part of the agreement, the land will be split evenly between NBCC and GNCTD, with the company receiving a 21.23-acre portion. NBCC is set to pay a one-time land premium of ₹135 crore, joined by a lump-sum interest of ₹15 crore, totaling ₹150 crore to the GNCTD’s Land & Building Department for dues related to its share of the land. Additionally,…

IndustryLatest Stories

Mumbai Real Estate Developers to Pause for Civic Elections

MUMBAI: Real estate developers in the Mumbai Metropolitan Region, which includes Mumbai, Thane, and Navi Mumbai, are currently adopting a cautious approach to project approvals and amendments due to the upcoming municipal elections and the implementation of the Model Code of Conduct. This comes despite steady housing demand in the area. Although there has been no official halt on construction-related permissions, industry stakeholders indicate that administrative processes typically slow down during civic election periods, as many officials are preoccupied with election duties. This has led developers to adjust their timelines for various discretionary approvals, such as revised commencement certificates, layout…

IndustryLatest Stories

Amaravati Real Estate Revives, But Affordability Woes Persist

Representative AI image VIJAYAWADA: As 2025 approaches its end, the real estate market in Amaravati, the capital of Andhra Pradesh, is experiencing a significant revival. Developers, investors, and homebuyers are growing increasingly optimistic about the opportunities that 2026 will bring. After enduring years of policy ambiguity and stagnation, Amaravati is once again emerging as an attractive investment location, thanks to accelerated infrastructure development, clear policy frameworks, and on-the-ground execution. Ongoing large-scale projects including government buildings, roads, housing developments, and utility infrastructure are steadily progressing, instilling renewed confidence among stakeholders. Unlike previous phases marked by mere announcements, this current momentum is…

Latest StoriesRera

Gujarat RERA Streamlines Grievance Resolution Process

AHMEDABAD: The Gujarat Real Estate Regulatory Authority (GujRERA) has introduced a new standard operating procedure (SOP) aimed at enhancing the grievance redressal process for property buyers and stakeholders. The updated SOP adopts a digital-first approach, bolstering the existing online mechanisms and clearly outlining procedural timelines and roles. Individuals purchasing property can now file complaints from the comfort of their homes using the GujRERA portal. While an offline option remains, online submissions are encouraged for swift resolutions. Upon submitting an online complaint, a physical copy must also be delivered to the RERA office within seven days, according to a state government…

IndustryLatest Stories

Crisil: REIT Gross Asset Value to Surge 35-40% This Fiscal

NEW DELHI: According to Crisil Ratings, the gross asset value (GAV) of domestic real estate investment trusts (REITs) is projected to rise by 35-40% by the end of fiscal 2027, up from September 2025, driven by new asset additions and the introduction of another REIT. Stable rental income growth, along with diversification and regulated leverage, will support steady credit profiles. REITs generally grow their asset base either through the development of new projects—limited to 20% by regulations—or by acquiring existing operational assets. Gautam Shahi, director of the firm, stated, “Currently, under-construction assets make up just 5% of total GAV for…

InfrastructureLatest Stories

Pune: MIDC Urges Developers to Cut Pollution in Hinjewadi

Representative AI image PUNE: The Maharashtra Industrial Development Corporation (MIDC) has issued notices to real estate developers Reyaansh Logistics, Gera Projects, Godrej Properties, and Pegassus Properties, urging them to mitigate air and sound pollution in the Megapolis area of the Hinjewadi IT park. Local residents have filed multiple complaints with the industrial authority concerning uncovered and overloaded trucks transporting earth and debris, causing dust accumulation on roads. Megapolis is a major residential area within phase III of Hinjewadi, where several developers are actively building projects. This marks the second time MIDC has alerted developers based on residents’ complaints. MIDC executive…

InfrastructureLatest Stories

Navi Mumbai Airport Launches Commercial Flight Operations

The Navi Mumbai International Airport will handle 15 scheduled departures on its opening day MUMBAI: After nearly 30 years since the ambitious project was initiated to alleviate congestion at Mumbai’s current airport, the Navi Mumbai International Airport was officially inaugurated on Thursday. An IndiGo Airbus A320 arriving from Bengaluru touched down at 8 am, greeted with a ceremonial water cannon salute. Commercial flight operations mark a significant expansion of Mumbai’s aviation capabilities and a pivotal milestone in India’s infrastructure development. Now operational, Mumbai joins major global aviation hubs such as London, New York, Moscow, Tokyo, and Shanghai, each served by…